The Graniteshares 2x Short NVDA Daily ETF (NVD) closed up 2.05% at $30.41 on January 14, as NVIDIA Corp's stock price fell 0.91% to $132.02 following the introduction of new export controls by the Biden administration. These controls, aimed at limiting the export of advanced AI chips to adversarial countries, wiped $64 billion from NVIDIA's market value. The restrictions cap the number of GPUs that can be exported to most nations without a special license, impacting NVIDIA's data center chip sales, a significant revenue driver. Despite the stock's decline, analysts remain cautiously optimistic, though HSBC lowered its price target from $195 to $185. Citi also removed its "90-day positive catalyst watch" on NVIDIA, citing long-term risks from the new regulations.